(a) If the grand prize is $12,000,000, find and interpret the expected cash prize. If a ticket costs $1, what is your expected profit from one ticket?

The expected cash prize is $___

(Round to the nearest cent as needed.)

(b) To the nearest million, how much should the grand prize be so that you can expect a profit?

For a multistate lottery, the following probability distribution represents the cash prizes of the lottery with their corresponding probabilities. Complete parts (a) through (c) below X(cash prize, s) Grand prize 200,000 10,000 100 7 4 3 0 P(x) 0.00000000895 0.00000025 0.000001771 0.000160264 0.005852174 0.006371483 0.01137165 0.97624239905 CRO (a) If the grand prize is $12,000,000, find and interpret the expected cash prize. If a ticket costs $1, what is your expected profit from one ticket? The expected cash prize is $(Round to the nearest cont as needed.)